3 Questions About a Home Warranty You Should Ask Yourself
A Home Warranty is a contract for your home that takes care of:
- Electrical repairs
- Plumbing repairs
- Appliance repairs
An annual premium must be paid in advance for the more important appliances in your home to be repaired or serviced. The question is, do I need one, and if so, how do I pick the best one?
Do I Need a Home Warranty?
An appliance warranty can give you peace of mind if you are already a homeowner. It can protect you from expensive repairs. You can call to you service provider if something breaks down. They will come and repair, or replace, the item in a reasonable amount of time.
You will be more likely to have many repair problems if your house is over five years old, so it would be a good idea to have homeowner warranty insurance. Unless you have the time and money to have it fixed or the skills to fix it yourself, that is.
New home buyers fear buying a home. This is because they don’t want to have a major repair bill come up too soon after they purchase it. Real estate agents might offer home warranty insurance to ease these fears and help close the deal.
You should consider purchasing home warranty if any of the following is true:
- Your appliances that are getting old
- Your house is over five years old
- You do not want to cold call contractors, screen them, get a quotes, and check their work
- There is no cushion for any expensive repairs
- You are buying a home for the first time
How Does A Home Warranty Protection Plan Work?
All you need to do is call your home warranty company if any of your appliances break down or malfunction, such as your:
- Garbage disposal
- Washing machine
- Heating and cooling systems
They will arrange for a technician to come by your home and fix the issue. Good home warranty companies will have a service call fee. It will be a deductible and is normally between $60 and $100. There are a couple that offer a $0 deductible as well.
What Should You Know About Home Warranty?
You need to know what it covers. This list is relatively short, and includes:
- Appliances
- Heating and Air Conditioning
- Inside Electrical System
- Interior Plumbing not including the Fixtures
- Asphalt Paving
The warranty company will either repair or replace the items covered, however, some items have ceilings or specific restrictions. Be sure to look over the policy so you know what is covered.
The price will depend on what type of coverage you want and which city you live in. There are various levels of coverage, so be sure you compare apples to apples when looking at the price.
You should be acquainted with the reputation of a company before you buy from them. You can look up home warranty reviews online. Almost all companies have a few complaints. You should check their overall rating.
A home warranty might be a good idea for older homes. You should study the fine print in the home service contract before buying it and carefully think about if it going to pay off. For a list of home warranty companies in this area, give Affiliated Home Solutions a call.